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Report No. 17

24. Sections 12, 13, 14.- No change.

25. Section 15.-

It was suggested that a qualification on the lines of the rule in section 174 of the American Restatement on Trusts1 should be engrafted. The qualification is that "if the trustee has greater skill than that of a man of ordinary prudence he is under a duty to exercise such skill as he has". The section, as it now exists, embodies the rules recognised in England from very early times and has not been altered since. We see no reason to increase the standard of care required by a trustee. Besides, it is very difficult to apply the suggested qualification if it is embodied in the Act, as there are no means for determining the degrees of skill between persons. The trustee, it has been held, is not absolved from his responsibility even if he has taken legal advice. We do not therefore accept the suggestion.

1. Vol. 1, p. 448.

Trusts Act, 1882 Back

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